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E-commerce market to reach $ 52 billion in five years

The revenue of online retail business (e-commerce) in the country will be doubled in the next five years. Digital and Marketing Company ‘Digital Marketing Deal’ has stated in its report that the e-commerce market in the country is growing rapidly every year.

It has been reported in the report that in the year 2017, about 37% of the total population used the Internet, 14% of these were regularly shopping online. This partnership of Internet users in the population is expected to increase to 45 percent by 2021. Similarly, the number of online buyers is expected to increase by about 90 percent. The report says that more than half of the online Indian buyers give preference to cash on delivery (POD) i.e. cash on delivery. Similarly, at the time of digital payment, 15 percent of debit cards are preferred, while 11 percent preferred to pay by credit card. The report hopes to increase digital payments in the near future, because with the increasing number of mobile users, the government is encouraging citizens to pay non-cash, whose impact will also be seen in this area.

Shopping will increase from mobile

Currently, e-commerce consumers are mostly buying (56%) through desktop, while the share of the smartphone in online purchases is just 30%. But by the year 2020, the mobile density is expected to increase to 54% of the population, so participation in mobile e-commerce revenue can increase to 70%.

12 million Indians e-shopping

About 201 million people are estimated to make online purchases in the year 2017. According to a study conducted by the industry organization Assocham and Resurgent, improving the consumption and logistics, this year’s online purchasers are expected to increase. This number is likely to reach around 12 million. In the year 2016, 10.5 million people had online shopping. The study included people from many cities like Delhi, Mumbai, Kolkata, Bengaluru, Ahmedabad, Hyderabad, Pune.

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